Hi, my name is David, and today I have decided to record a video to show you a chart of the bitcoin that its holders will not like. It is a logarithmic chart in weekly temporality. In it, you can see a long-term bullish impulsive pattern that has come to an end.
The purple rectangle is the expected target for wave 5. As you can see it reached the upper end of the said rectangle, and that is precisely where the pattern terminal that we announced about two months ago on this YouTube channel was produced, and which has caused the great fall in which we find ourselves.
It is still early to know what the price will do, but the signals are there, and you have to take them into account. It would be an apocalyptic scenario for investors in Bitcoin. The most imminent danger is that the price gets into the terrain of wave 3, that is, that it falls below the level of $ 20,000.
The fact that would definitely confirm the exhaustion of the uptrend would be the cut of the 2/4 line. After the cut, the price could go to the targets of the wave 4 level ($ 3,858), the 50% ($ 2,733) and the 61.8% ($ 1,263). We will keep track of this count on our YouTube channel and on the Discord server in case there is any news.
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